Smiths Group plc today announces that Stephen Phipson, President of Smiths Detection, will step down with immediate effect and divisional management will report to Group Chief Executive, Philip Bowman, in the short term.
Trading in Smiths Detection in the second half of its financial year has fallen short of the Board’s expectations as a result of continued delays to orders. Looking to the full year for Smiths Detection, the sales trends seen in the first half are likely to continue through the balance of the year, while full year margins may be affected by the associated operational gearing. Guidance for the other divisions remains unchanged.
The process to appoint a permanent replacement as President of Smiths Detection is underway.